Word: unsold
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More Cutting. Now, however, as frightened consumers retreat further into their shell and unsold goods pile up, the capital spending boom is fading. Discounted for inflation, it has been dropping for the past six months and is sure to fall even more in 1975 (see chart). The result: an even greater likelihood that the recovery, when it comes, will be low and slow...
...Unsold Products...
...problems that typically develops in a recession is illustrated by the acres of unsold cars in Detroit. Companies have accumulated stocks of goods they cannot sell at a price they like. At the same time there are growing numbers of people who need these goods but cannot afford to buy them. In effect, the companies are on strike, holding back in hopes of better prices...
...scramble to build up inventories last year helped prevent the unemployment rate from rising above 4.8 per cent in the last part of 1973. Now, however, workers will pay for the companies' speculation against inflation by being laid off when they need money most. Until those unsold goods start to move, unemployment will stay high...
Suffer Along. More than by anything else, though, the shape of the recession from here on and the timing of the turn-around will be determined by what happens to inventories-the unsold goods and supplies that businessmen have on hand. Although production is dropping, it will be some time before business can work off those inventories; Chrysler, for example, has a four-month supply of unsold cars on lots and in showrooms. Sometimes the lag involved in pulling inventories into line with sales produces what is known as a V-shaped recession: production plunges until inventories are sold, then...